Leading PV inverter manufacturer SMA Solar Technology has revised upwards its sales and earnings forecast in 2015 for a second time this year.
SMA Solar said that it expected 2015 sales to be in the range of €850 million to €900 million, up from previous guidance of €800 million to €850 million.
As a result it expected to achieve an EBIT of breakeven to €10 million, compared to previous guidance of a loss of €25 million to breakeven for the year.
Pierre-Pascal Urbon, SMA chief executive chief financial officer said: “SMA has achieved a sustainable turnaround within a short space of time. Due to the SMA Group’s extensive transformation in the current fiscal year, we are emerging stronger from the years of structural change in the solar industry and will generate sales growth again this year for the first time since 2010. SMA’s important success factors for gaining market share this year are, in addition to its complete product portfolio for all power ranges and applications, our global presence and extraordinary flexibility”.
In a financial presentation, SMA Solar noted that the strong revenue growth was expected through the third quarter of 2015, driven by the Americas market, which was expected to account for around 45% of sales in 2015.
Overall, the utility-scale segment would account for approximately 40% of sales in 2015, followed by residential (25%) and commercial (20%).
SMA Solar also noted that the utility-scale market in North America would be the main growth driver in 2016, accounting for around €1.5 billion in sales, or around 35% of sales.
Demand in the UK for utility-scale inverters was also a driver through to the end of the first quarter, while Europe (EMEA) was expected to remain stable in 2016.
Currently, SMA Solar’s order backlog is dominated by the America’s market, accounting for 49% of the €665 million in confirmed orders, which includes a 700MW order from US-based EPC, Swinerton Renewable Energy.